MoneyHash Bags US$5.2 Million In Pre-Series A Funding

MoneyHash, a payment orchestration platform serving the Middle East and Africa (MEA), has raised US$5.2 million in pre-Series A funding, with the round led by Flourish Ventures, a prominent global fintech investor backing industry leaders like Chime, Flutterwave, FairMoney, and Neon, and boasting a portfolio of over 100 fintech startups.  

Other investors include Saudi Arabia’s Vision Ventures, Arab Bank's Xelerate, and Emurgo Kepple Ventures. Notably, Jason Gardner, the founder and former CEO of Marqeta, a modern card issuing and payment processing platform, also participated, making this his first MEA investment. The funding round also received continued backing from existing investors COTU, RZM Investment, and GitHub founder Tom Preston-Werner. 

This new round is underscored by strategic partnerships with leading brands and performance milestones, both regionally and on the global stage. MoneyHash had previously closed a $4.5 million seed round in early 2024. 

Founded in early 2021 by Egyptian technologists Nader Abdelrazik and Mustafa Eid, MoneyHash is a payment orchestration platform designed to simplify and optimize digital payments for businesses across the Middle East and Africa (MEA). It provides a unified payment infrastructure that enables companies to seamlessly integrate multiple payment methods, gateways, and service providers into a single application programming interface (API).

After rolling out their enterprise suite in early 2024, the company quickly became a go-to solution for top-tier organizations across the region. The platform has been embraced by major players like Tamara, Saudi Arabia's first fintech unicorn, Kitopi, a leader in the cloud kitchen space, and Brands For Less, a global e-commerce powerhouse. 

Headquartered in New York City, MoneyHash boasts a global team of 30 professionals across nine countries. MoneyHash's strategic emphasis on serving large enterprises has paid off, with this segment now making up over 35 percent of its client base—a threefold increase in 2024 alone. This focus has driven a fourfold surge in transaction processing volume last year. 

MoneyHash’s solution offers the potential to boost revenue by 10-15 percent while slashing go-to-market and development expenses by 90 percent. With a total of $7.5 million raised through two prior funding rounds, the latest investment will be used to boost the company's presence in the MEA region and pave the way for expansion into other emerging markets (EM). 

In a statement, Abdelrazik, co-founder and CEO of MoneyHash, said, "In emerging markets, payment infrastructure remains significantly underdeveloped, with failure rates three times the global average and fraud rates and cart abandonment over 20 percent higher than developed markets. Drawing from our extensive experience in MEA, one of the most challenging regions globally, we've seen firsthand how these issues transform payments from a growth enabler into a cost and risk center.”

Abdelrazik added, "The opportunity to solve this is immense. In emerging markets, digital payments represent only a fraction of total transaction volume, suggesting massive growth potential in the coming decade. We've built MoneyHash specifically to help merchants overcome these complex challenges and turn payments from a liability into a strategic advantage." 

For Maram Alikaj, chief operating officer of MoneyHash and former payment leader at Block (formerly Square), MoneyHash offers a comprehensive payment operating system built for emerging markets, transforming existing payment setups into high-performance engines. "We've built our product with a deep understanding of emerging markets' unique challenges. Rather than letting merchants struggle with fragmented solutions, we provide a unified suite that elevates all payment performance metrics," Alikaj emphasized.  

The platform connects with merchants’ current payment providers while unlocking features like a single API for seamless pay-in and pay-out operations, a fully customizable checkout experience, intelligent transaction routing with fraud prevention and optimized success rates, and robust reporting tools. Beyond the essentials, it offers features like recurring payments, virtual wallets, subscription management, and payment links—providing businesses with everything they need to streamline and elevate their payment processes. 

On what makes MoneyHash stand out from the competitive landscape, Alikaj said, "What sets us apart is our focus on emerging markets combined with our unparalleled integration network. With over 300 pre-integrated APIs of payment service providers and methods across 100+ markets, we're not just solving today's challenges—we're future-proofing payment operations for our merchants. This extensive coverage, paired with our specialized feature set for emerging markets, ensures that businesses can confidently scale their payment operations while maintaining superior performance metrics." 

Ameya Upadhyay, venture partner at Flourish Ventures, who will join MoneyHash's board of directors, highlighted, "MoneyHash has built a must-have product for enterprises that delivers better payment performance and higher margins from day one. As early-stage investors with a large EM-focused payment portfolio, we have first-hand experience of the massive scale of the opportunity. The team’s deep payment experience and obsessive customer focus positions them to emerge as a leader across emerging ,arkets, starting with MEA. We are privileged to be part of the journey." 

According to Abdelrazik, the recent funds will not just help the company strengthen its product and market presence, but will also lay the groundwork for global expansion, "In our early years, we strategically focused on partnering with strong regional investors to accelerate our market penetration.” He continued, “Now, with Flourish Ventures joining us, we're establishing a solid foundation for global expansion. Having such a fintech, well-seasoned, globally recognized fund as our partner is particularly crucial for our next phase of growth."